This article is from the source 'nytimes' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.nytimes.com/2015/03/10/business/greece-eurozone-finance-ministers.html
The article has changed 6 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Greece’s Hope for Eurozone Aid Shifts Back to Brussels | Greece’s Hope for Eurozone Aid Shifts Back to Brussels |
| (about 1 hour later) | |
| BRUSSELS — Greece’s continuing effort to unlock aid from its European lenders moved back to Brussels on Monday afternoon, where eurozone finance ministers were meeting to assess the latest Greek set of economic proposals. | |
| The country’s finance minister, Yanis Varoufakis, was expected to be asked to explain his remarks over the weekend about a potential vote by Greek citizens if his government’s proposals for economic overhaul are eventually rejected. The prospect of a referendum in Greece, raised by several Greek officials over the weekend, fueled criticism on Monday from the political opposition and also from within the government. | |
| Although European officials have agreed in principle to disburse an additional 7 billion euros, or about $7.6 billion, from Greece’s €240 billion bailout program, they have indicated that no money would be released before April. They have said it would happen only if the new left-leaning Greek government could demonstrate it was serious about improving its tax-collecting efforts and making structural changes in the economy. | Although European officials have agreed in principle to disburse an additional 7 billion euros, or about $7.6 billion, from Greece’s €240 billion bailout program, they have indicated that no money would be released before April. They have said it would happen only if the new left-leaning Greek government could demonstrate it was serious about improving its tax-collecting efforts and making structural changes in the economy. |
| No final decision was expected at Monday’s meeting, the regularly scheduled monthly session of the Eurogroup, the 19 eurozone finance ministers. But the meeting, which began midafternoon here, could signal how close Greece is to producing a plan that is likely to persuade creditors to continue lending it money. | |
| On his way into the meeting, the head of the Eurogroup, Jeroen Dijsselbloem, expressed frustration over the protracted pace of the negotiations. No formal discussions are yet underway between technical teams from Athens and the European officials monitoring the bailout program on behalf of the creditors. | |
| “We have lost over two weeks in which very little progress has been made,” Mr. Dijsselbloem told reporters. “The real talks haven’t started yet — there has been no implementation,” he said. “So we have to stop wasting time and really start the talks now seriously.” | |
| And the German chancellor, Angela Merkel, when asked about Greece on Monday during a news conference in Tokyo, said the other eurozone countries remained committed to keeping Greece in the currency union. But in trying to come to terms over a loan extension, Ms. Merkel said, ‘‘We clearly have a very difficult path ahead of us,” Reuters reported. | |
| Late last week, Mr. Varoufakis submitted a set of proposed measures, including an unorthodox plan to enlist Greek citizens and tourists in an undercover program meant to identify tax evaders. | Late last week, Mr. Varoufakis submitted a set of proposed measures, including an unorthodox plan to enlist Greek citizens and tourists in an undercover program meant to identify tax evaders. |
| If that idea conveyed a sense of desperation, it might be for good reason. Greece risks running out of money before the end of this month, as tax receipts shrink and the economy shows signs of lapsing back into recession. The government could have trouble repaying or refinancing about €6 billion in debt obligations for this month, including around €1.5 billion in payments to the International Monetary Fund and more than €3 billion in Treasury bill redemptions. | If that idea conveyed a sense of desperation, it might be for good reason. Greece risks running out of money before the end of this month, as tax receipts shrink and the economy shows signs of lapsing back into recession. The government could have trouble repaying or refinancing about €6 billion in debt obligations for this month, including around €1.5 billion in payments to the International Monetary Fund and more than €3 billion in Treasury bill redemptions. |
| In an interview with the Italian newspaper Corriere della Sera on Saturday, Mr. Varoufakis said Greece could call elections or a referendum in the event that its proposed overhauls are rejected by international creditors. Amid feverish speculation in the Greek news media over the weekend about a possible referendum on the country’s membership in the eurozone, the government accused the newspaper of distorting the minister’s comments, saying he had not suggested Greece would hold a referendum on the euro but on the country’s economic program and fiscal policy. | In an interview with the Italian newspaper Corriere della Sera on Saturday, Mr. Varoufakis said Greece could call elections or a referendum in the event that its proposed overhauls are rejected by international creditors. Amid feverish speculation in the Greek news media over the weekend about a possible referendum on the country’s membership in the eurozone, the government accused the newspaper of distorting the minister’s comments, saying he had not suggested Greece would hold a referendum on the euro but on the country’s economic program and fiscal policy. |
| In a separate interview with Der Spiegel in Germany, published on Saturday, Prime Minister Alexis Tsipras made a vaguer reference, saying the question in a possible referendum could be, “Do you want your dignity or a continuation of this unworthy policy?” | In a separate interview with Der Spiegel in Germany, published on Saturday, Prime Minister Alexis Tsipras made a vaguer reference, saying the question in a possible referendum could be, “Do you want your dignity or a continuation of this unworthy policy?” |
| Panos Kammenos, Mr. Tsipras’s junior coalition partner and the defense minister, also suggested on Saturday that a referendum could be an option. | Panos Kammenos, Mr. Tsipras’s junior coalition partner and the defense minister, also suggested on Saturday that a referendum could be an option. |
| Antonis Samaras, the former prime minister, on Sunday rejected a potential referendum as a “very bad development,” saying it would allow the government to shirk its responsibilities. The criticism continued on Monday with central members of Mr. Samaras’s conservative party describing Mr. Varoufakis as “dangerous” because of both the referendum idea and his proposal to employ Greeks and tourists as undercover agents to bolster a tax evasion crackdown. | Antonis Samaras, the former prime minister, on Sunday rejected a potential referendum as a “very bad development,” saying it would allow the government to shirk its responsibilities. The criticism continued on Monday with central members of Mr. Samaras’s conservative party describing Mr. Varoufakis as “dangerous” because of both the referendum idea and his proposal to employ Greeks and tourists as undercover agents to bolster a tax evasion crackdown. |
| Some officials of the Syriza-led government also expressed reservations about a referendum, with the prominent legislator Alexis Mitropoulos describing the idea as “naïve and thoughtless.” | Some officials of the Syriza-led government also expressed reservations about a referendum, with the prominent legislator Alexis Mitropoulos describing the idea as “naïve and thoughtless.” |
| In October 2011, George Papandreou, the former prime minister, proposed a referendum on Greece’s loan agreement with creditors, prompting an outcry at home and abroad, and leading to the collapse of his socialist government, which was replaced by a unity coalition under a technocrat prime minister. | In October 2011, George Papandreou, the former prime minister, proposed a referendum on Greece’s loan agreement with creditors, prompting an outcry at home and abroad, and leading to the collapse of his socialist government, which was replaced by a unity coalition under a technocrat prime minister. |
| Opinion polls consistently indicate that most Greeks want the country to remain in the eurozone, but a majority continue to back the government’s tough stance against creditors despite warnings that euro membership could be at stake. | Opinion polls consistently indicate that most Greeks want the country to remain in the eurozone, but a majority continue to back the government’s tough stance against creditors despite warnings that euro membership could be at stake. |